I'm looking for non-recourse lenders all over, do you have any regional banks, credit unions, etc. that offer non-recourse loans? Any mentions would be helpful.
I don't know any lenders that will do a non-recourse loan. Why do you want a non-recourse loan?
I'm not personally looking for a non-recourse loan (yet). I'm looking to discover new non-recourse lenders that do business with IRAs and other qualified plans. My clients often ask about lenders and non-recourse lenders are usually far and few between.
@Loren Whitney - I am curious if you were able to find the names of any non recourse lenders? I too am looking for a few, as I have a Solo401k I would like to take loans with. Ever find anything?
I don't know of any local, regional, or national banks that offer non-recourse financing for IRA's. Potentially a non-recourse loan on real estate if you had a stellar business relationship with a local bank with high revenue/income/assets depending on the industry (and long history with the bank). But that would probably depend on their regulators. And they would make your business sign the guarantee on behalf of the IRA (more than likely).
Beyond that the CRE capital markets have a lot of availability to non-recourse loans through life insurance lenders, CMBS, fannie/freddie (for multi-family). Loan size generally needs to be 5MM+ but there are small balance programs for CMBS, Life, & Fannie/Freddie down to 1-2MM.
You might be able to develop a relationship with a niche business lender offering this service for IRA's. Or you might be able to work with a specialized real estate lender/fund that wants to diversify. Just a few thoughts...
Not used them but heard of them. Best of luck.
I found this by searching the Net.
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